Tesla Motors and Panasonic Partner to Produce Solar Panels

Tesla Motors Inc. (NASDAQ: TSLA) amounted in a blogpost that it will be partnering with Panasonic Corp. to produce solar panels at a factory in Buffalo, New York. The factory was originally built for SolarCity (NASDAQ: SCTY). The solar panels, together with electric batteries will be sold to residential, commercial as well as utility customers. SolarCity will still play a role in this operation, providing installation, sales and financing.

Tesla Chief Technical Officer J.B. Straube said in the statement, “We are excited to expand our partnership with Panasonic as we move towards a combined Tesla and SolarCity. By working together on solar, we will be able to accelerate production of high-efficiency, extremely reliable solar cells and modules at the best cost.”

Shuuji Okayama, Vice-president, Eco Solutions Company of Panasonic, added, “Panasonic PV cells and modules boast industry-leading power generation performance, and achieve high quality and reliability. We expect that the collaboration talks will lead to growth of the Tesla and Panasonic relationship.”

Tesla and Panasonic already have a strong collaborating relationship, including the production of electric vehicle and grid storage battery cells at Tesla’s Gigafactory.

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